Will Crypto survive?

[Mr.Ease]

After almost 9 years of playing around with bitcoin and cryptos I have nearly seen it all.

The Fall of Mt. Gox was all the rage, the crypto markets collapsed for years, and yet, it seemed like there was just so much more potential during that time, so much excitement and shilling...
The markets collapsed, but the communities were strong.

Now seems different...

The crypto winter kicked off and the first casualty was Luna... 6 months later we watched Ftx collapse, and now many "Trustworthy" and "Safe" exchanges are playing games with user funds due to the mismanagement of assets and too much exposure to Ftx.
What happens next?

Did too many people get burned too bad this time?

Is the negative outlook too much now?

I worry that this may be the beginning of the end to many long lasting projects and potentially bitcoin itself... This crypto winter has at least another year to run its course and we are still watching the FTX fallout unravel.
It's some tough times, indeed... All the bags of worthless tokens that were once projects of potential.

Anyone out there have words of encouragement regarding the future of crypto? Anything the future holds to look forward to?

[1714764504]

1714764504

[1714764504]

1714764504

[1714764504]

1714764504

[1714764504]

1714764504

[NotATether]

Anyone out there have words of encouragement regarding the future of crypto? Anything the future holds to look forward to?

You can find them all at the Wall Observer thread.


In the future, crypto exchanges will be heavily regulated, almost like banks. That is a good thing, because it means they won't be able to get away with lax business controls.

Everyone has already implemented KYC and KYB. The next technology to be developed could be something which I call Know Your Institution (KYI), with verification requirements for the exchanges themselves similar to how we need to get verified and they're all strict about it.

[pooya87]

It depends on what you mean by "crypto" and "survive".

The shitcoin market (aka crypto market) will continue to exist and survive the same way it has been surviving so far, by pump and dumping to attract gamblers for quick profit/loss based on their bets on different altcoins. It is not actual survival though since the altcoins will remain useless and without any actual adoption outside trading.

As for bitcoin, nothing has changed and nothing will change. It is going forward with the adoption and if anything the recent FTX thing proved how much stronger bitcoin has gotten. You should know this better if your claim of being around for 9 years is correct! Each time a hack of such scale happened the crash has been massive starting from 40% all the way to 80%. This time we only saw a 15% drop and this is during one of the worst global economic crisis in bitcoin's entire history.

[rokok lokal]

Anyone out there have words of encouragement regarding the future of crypto? Anything the future holds to look forward to?

No matter how we cut the cake, we have to realize that this entire crypto arena is in a consolidation phase for now. So, it's no surprise that Bitcoin fails to break new all-time highs over the next few weeks. If and when it peaks, BTC price will likely sideways a little more before resuming its vertical rise. So if someone is sustaining a long exposure for a while, do it with both eyes open.

I don't know how long or how clear it will be down, but I'm sure the price will rebound. Keep believing and don't regret anything because we can all become billionaires even when the bitcoin price drops to $12,000 later.

[Upgrade00]

I worry that this may be the beginning of the end to many long lasting projects and potentially bitcoin itself... This crypto winter has at least another year to run its course and we are still watching the FTX fallout unravel.

We've heard the death of Bitcoin more times than we can count on both hands and yet here; Bitcoin is still at a higher price than over 60% of any of its previous prices.
FTX fallout is a crash and burn being repeated in different forms for individuals who keep trusting platforms over self custody, it's not the first and would not be the last.

Anyone out there have words of encouragement regarding the future of crypto? Anything the future holds to look forward to?

The future of crypto as a whole would largely be a switch of the current shitcoins to different ones which would again attract newer investors and the cycle continues. Majority of the current altcoins on the market would not exist in a few years and would be replaced by newer ones.

1BTC would always be equal to 1BTC.

[Hyphen(-)]

The crypto winter kicked off and the first casualty was Luna... 6 months later we watched Ftx collapse, and now many "Trustworthy" and "Safe" exchanges are playing games with user funds due to the mismanagement of assets and too much exposure to Ftx.
What happens next?

Exchanges that do not have a plan will still struggle, and their reputation will be harmed, possibly due to a lack of reserves to keep the exchange running as FTX did.
People who have Bitcoin in their personal wallets, on the other hand, have nothing to worry about because you have your private key in your possession, so your Bitcoin will remain there and no one can hack it without your private keys.

Anyone out there have words of encouragement regarding the future of crypto? Anything the future holds to look forward to?

Anything that has a beginning must have an end; the bear market has arrived and will soon depart, though we do not know when; however, our primary trust in Bitcoin should keep us active and strong; additionally, we should be adding more Bitcoin to our portfolios because Bitcoin is currently the only trusted coin to hold.

[davis196]

Did too many people get burned too bad this time?

Is the negative outlook too much now?

I worry that this may be the beginning of the end to many long lasting projects and potentially bitcoin itself... This crypto winter has at least another year to run its course and we are still watching the FTX fallout unravel.
It's some tough times, indeed... All the bags of worthless tokens that were once projects of potential.

1.The people, who got burned should have known the saying "Not your keys, not your coins". Do not trust a centralized company, it doesn't matter how "trustworthy" this company appears to be.

2. The end of a bunch of crypto scams has nothing to do with Bitcoin. The Bitcoin blockchain is fine. The BTC miners are still mining.
The Bitcoin price is surprisingly stable in a time of constant FUD and bearish signals.

3."All the bags of worthless tokens" were bags of worthless tokens since Day 1. The fact that those projects were backed only by big promises doesn't prove that they were "projects of potential".

[avikz]

One simple thing to keep in mind -

"Not your keys, not your coins!"

Crypto veterans have been saying this since a long time. Now probably is the time to pay attention to it. We all understand that we are going through a bad time and a lot of people will have to take hit from FTX collapse and other exchanges exposure to FTX. But as we have always done, we will get through it! Some hands will burned but they will get the lesson of a lifetime not to repeat their mistakes!

Also, it is important to notice a tremendous opportunity it gives to us to enter into crypto market at a rock-bottom price point. That opportunity may never come back again!

[Doan9269]

Cryptocurrency will definitely survive through but the worry is which of them? the more we keep having new exchanges and they are introducing their own currency as well and the more the pool of other cryptocurrencies keep increasing daily and many are getting knocked down as well which same is applicable to exchanges, but bitcoin will always prove the regidity to stand against any other form of digital currency that follows after it, this also calls forbus to know the type of cryptocurrency we venture into and have bitcoin with the highest priority over others.

[LogitechMouse]

Regulating these crypto exchanges especially the centralized ones will help lessen frauds like what happened to FTX.

We've seen similar instances of these in the past and we've also saw Bitcoin declared dead 453 times according to 99bitcoins and here we are still. We are still on our way for Bitcoin to reach $100,000. We are still in a way to see the new technology being adopted globally. We are still seeing crypto surviving despite of what's happening. We might see different altcoins going down gradually because of this bear market but cryptocurrency in general will survive.

Anyone out there have words of encouragement regarding the future of crypto? Anything the future holds to look forward to?

Words of encouragement? Put your coins in a safer wallet. A wallet where you will hold the private keys. I guess that's enough words of encouragement for you.

[Mamun74]

My old experienced, Cryptocurrency is surviving long time.Bitcoin is long term survive coin.But people worry about Bitcoin? But why? i think, people who worry about bitcoin then i think he didn’t about bitcoin properly. I still believe cryptocurrency or bitcoin will be more time survive in future.

[Ayers]

The market is going through very difficult days and today bitcoin price is down again, but is anyone here like me? I don't feel nervous or scared, I see the market is moving in the right direction. I mean there need to be these drops and the market needs constant cleaning, weak projects or investors who just want to get rich quick shouldn't stay in the market. Maturity requires trade-offs and sacrifices, a market that only goes up is an unsustainable market.

[yazher]

When we say future, we can't really explain what more it brings to us but as we can see right now regarding bitcoins exchanges, it's not really good but it doesn't mean that it will gonna be like that until the future comes. There will be lots of changes from now on and I'm pretty sure that the legit exchanges will recover from this unexpected tragedy also investors are more careful now than before. The good thing is, we always find a way to tackle and solve the problem and I think the hard wallet industries nowadays are getting more sales than before.

[Jawhead999]

Centralized exchanges collapsed doesn't affect Bitcoin since Bitcoin can be trade via P2P or using decentralized exchange, so Bitcoin will survive regardless anything happen on centralized entity, including government ban Bitcoin.

But for those centralized shitcoins which can be only trade in centralized exchanges or centralized swap platform, coins with low volume will collapse and the top shitcoins might collapse after no one trust it anymore. It can be because the project has done wrong or hacked.

[drwhobox]

The market is going through very difficult days and today bitcoin price is down again, but is anyone here like me? I don't feel nervous or scared, I see the market is moving in the right direction. I mean there need to be these drops and the market needs constant cleaning, weak projects or investors who just want to get rich quick shouldn't stay in the market. Maturity requires trade-offs and sacrifices, a market that only goes up is an unsustainable market.

Same here for me. The market needs to go down for a bit, maybe it is one of the longest period of a bearish market with all this luna and ftx issues. But I think the market will go up eventually after all of the shit coin holders go out. I am not also scared of this situation I saw bitcoin hitting 60k as well as going down under 5k.

[Mauser]

Anyone out there have words of encouragement regarding the future of crypto? Anything the future holds to look forward to?

Stay strong and believe in crypto currencies. As a 9 year veteran you should be more optimistic, right now we are just in another bear market. Crypto will survive as it has in the past. Up and down cycles are part of any financial assets and as long we are not selling at the moment we should be fine. In my opinion this is good time to buy, rather than selling any of our coins. Look forward to the world going back to normality. The war in Ukraine has to end eventually, inflation can't stay in double digit territory forever, economic growth will come back. Once we beat the recession everything is going to look much better again. In a few years people who have up on cryptos and sold all their coins will feel terrible. The long term trend for cryptos is still upwards, a few bad events are not going to change that.

[xzy887]

This is not just your tention for youself. Crypto
Seeing this state of the currency, everyone is now in fear. And this year all the problems have come on crypto. The price of many rank tokens has dropped to the lowest price and many tokens have bid farewell to the market. And for that, maybe your question is, will the situation of Bitcoin be like these?
In my opinion it will never happen. Cryptocurrencies will exist as long as this world exists.And you should know that cryptocurrency is still there for Bitcoin. And from today to tomorrow the crypto will be a little stronger. And one day Bitcoin will be used everywhere. Then Bitcoin will become our wealth. So no matter how bad the market is, we shouldn't be fools thinking that Bitcoin is ever going to end. But the market is correct
We have to wait for a long time.

[sunsilk]

Well, during the first years when bitcoin was made and launched, too many people have doubted already. They said that it's just a joke money from the internet and not so many will be interested and serious about it.

But how many years have passed? How many great ups and downs has happened? It has recovered regardless of how low it has been. Be still and this is just another passing for the market to get more mature.

[Z-tight]

I worry that this may be the beginning of the end to many long lasting projects and potentially bitcoin itself...

People got burnt on centralized exchanges and altcoins, ftx was a centralized exchange and both ftt and luna were centralized coins or tokens; people got rekt because they put their funds in centralized exchanges, or that they held worthless coins.

Was there a person that lost a cent because BTC's security was breached, did the hash rate go so low that a malicious miner controlled 51% of the network, did BTC's price fall to 0, did mining stop completely, was everyone rushing to sell all their BTC away killing off all of its demand, etc, none of these ever happened, and we are closer to seeing the sun rise in the west that for all of these to happen. There is no beginning of the end for BTC, it has a unique usefulness.

[GxSTxV]

After almost 9 years of playing around with bitcoin and cryptos I have nearly seen it all.

The Fall of Mt. Gox was all the rage, the crypto markets collapsed for years, and yet, it seemed like there was just so much more potential during that time, so much excitement and shilling...
The markets collapsed, but the communities were strong.

Now seems different...

The crypto winter kicked off and the first casualty was Luna... 6 months later we watched Ftx collapse, and now many "Trustworthy" and "Safe" exchanges are playing games with user funds due to the mismanagement of assets and too much exposure to Ftx.
What happens next?

Did too many people get burned too bad this time?

Is the negative outlook too much now?

I worry that this may be the beginning of the end to many long lasting projects and potentially bitcoin itself... This crypto winter has at least another year to run its course and we are still watching the FTX fallout unravel.
It's some tough times, indeed... All the bags of worthless tokens that were once projects of potential.

Anyone out there have words of encouragement regarding the future of crypto? Anything the future holds to look forward to?

Yes we must agree that this time and specifically since the start of 2022 the market started a bearing run and a bad one, negative news and events coming one aftet another and most communities started to become a mess and selling out their tokens. Beside many rug pulls of exchanges and hackers also played a big role in destroying many projects and burning big money of users. A lot of people lost hope and became scared of putting more money inside crypto. To survive from this fall we need a very big good news which we hope to see in this close near future before 2023